Smart Biosensors Market Research Report - Global Forecast till 2030

Global Smart Biosensors Market: Information by Product Type (Wearable Biosensors, Non-wearable Biosensors), Technology (Electrochemical Biosensors, Others), Application (Drug Discovery, Others), End User (Point-Of-Care & Others)โ€”Global Forecast till 2030

ID: MRFR/HC/6331-HCR | November 2022 | Region: Global | 85 Pages         

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Market Scenario

The Smart Biosensors market is anticipated to reach USD 23819.88 Million by 2030 at 6.90% CAGR during the forecast period 2022-2030.

Biosensors are analytical devices used for detection of chemical and biological substances in the human body. Smart biosensors are easy to use, simple, accurate and effective than traditional methods of analysis. Biosensors are becoming popular in developed countries. The increasing prevalence of diabetes in emerging economies, demand for advanced monitoring systems, and increasing awareness about advance biosensors are expected to drive the growth of the market. According to the report published by World Health Organization(WHO) in 2016, diabetes is a major healthcare concern in Brazil, and it affected more than 8.1% of the population, the prevalence of diabetes was more in females, and it affected more than 8.8% females in the country. Moreover, rising R&D spending and collaborative strategies adopted by the top players such as new product launches and collaborations for product development are contributing to the growth of the market.

The rising cost of biosensors and unfavorable reimbursement policies may hamper the growth of the market during the assessment period.

Segmentation


The global smart biosensors market has been segmented on the basis of product type, technology, application, and end user.


On the basis of product type, the market has been classified as wearable biosensors, non-wearable biosensors.


The technology segment has been divided into electrochemical biosensors, piezoelectric biosensors, optical biosensors, thermal biosensors, nanomechanical biosensors, and others. thermal biosensors segment is likely to be the fastest growing segment during the forecast period.


The market, by application, has been segmented into blood glucose testing, cholesterol testing, blood gas analysis, pregnancy testing, drug discovery, infectious disease testing, and others.


The end user segment has been divided into point-of-care, home diagnostics, research labs, security & biodefense, environmental monitoring, food & beverage industry, and others


The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The smart biosensors market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.


The European smart biosensors market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. 


The smart biosensors market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The smart biosensors market in the Middle East & Africa has been segmented into the Middle East and Africa.


Regional Market Summary


Global Smart Biosensors Market Share, by Region, 2017 (%)


Global Smart Biosensors Market Share, by Region, 2017


Source: MRFR Analysis


The Americas are expected to hold the maximum share of global smart biosensors market owing to the rising prevalence of chronic disorders, favorable policies implemented by government and regulatory authorities, and adoption of highly advanced technology. According to the article published in 2016 by National Council on Aging, the prevalence of Chronic disorders in American regions is continuously increasing and about 80 percent of older adults have at least one chronic disease, and more than 68 percent were suffering from more than one chronic disorders.


The European market is likely to be the second-largest smart biosensors market. The market growth in this region can be attributed to the presence of well-established healthcare system in the region, government initiatives for controlling chronic disorders, and increase in the population suffering from cardiovascular disorders. According to the European Heart Network, cardiovascular disorders are responsible for 3.9 million deaths in the European Union which are 45% of the total deaths.


Asia-Pacific is expected to be the fastest-growing smart biosensors market during the forecast period owing to the increasing prevalence of diabetes, increasing disposable income, and government initiatives for the development of the healthcare sector. According to the International Diabetes Federation, in 2017, more than 84 million people in South-East Asia were affected by diabetes, and this number is expected to reach 156 million by 2045.


The market in the Middle East & Africa is expected to hold the smallest share of the global smart biosensors market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.


Key Players


Some of the key players in the global smart biosensors market are Abbott Point of Care Inc., Medtronic Inc., F. Hoffman La-Roche Ltd., Siemens Healthcare AG, Lifescan, Inc., LifeSensors Inc., Nova Biomedical Corp., Acon Laboratories Inc., Universal Biosensors, Pharmaco-Kinesis Corporation, Biacore, and Others


Global Smart Biosensors Market, by Product Type



  •  Wearable Biosensors

  • Non-wearable Biosensors


Global Smart Biosensors Market, by Technology



  • Electrochemical Biosensors

  • Piezoelectric Biosensors

  • Optical Biosensors

  • Thermal Biosensors

  • Nanomechanical Biosensors

  • Others


Global Smart Biosensors Market, by Application



  • Blood Glucose Testing

  • Cholesterol Testing

  • Blood Gas Analysis

  • Pregnancy Testing

  • Drug Discovery

  • Infectious Disease Testing

  • Others


Global Smart Biosensors Market, by End User



  • Point-Of-Care

  • Home Diagnostics

  • Research Labs

  • Security & Biodefense

  • Environmental Monitoring

  • Food & Beverage Industry

  • Others


Global Smart Biosensors Market, by Region



  • Americas

    • North America

      • US

      • Canada



    • South America



  • Europe

    • Western Europe

      • Germany

      • France

      • Italy

      • Spain

      • UK

      • Rest of Western Europe



    • Eastern Europe



  • Asia-Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific



  • Middle East & Africa

    • Middle East

    • Africa




Company Profiles 

  • Abbott Point of Care Inc.

  • Medtronic Inc.

  • Hoffman La-Roche Ltd.

  • Siemens Healthcare AG

  • Lifescan, Inc.

  • LifeSensors Inc.

  • Nova Biomedical Corp.

  • Acon Laboratories Inc.

  • Universal Biosensors

  • Pharmaco-Kinesis Corporation

  • Biacore


Intended Audience



  • Biosensor manufacturers

  • Biosensor distributors and suppliers

  • Healthcare providers

  • Medical device manufacturers

  • Research institutes and academic centers

  • Contract research organizations (CROs)

  • Government associations

  • Market research and consulting



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 12000 Million
  CAGR   7.64%
  Base Year   2019
  Forecast Period   2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product Type, Technology, Application, And End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Abbott Point of Care Inc., Medtronic Inc., F. Hoffman La-Roche Ltd., Siemens Healthcare AG, Lifescan, Inc., LifeSensors Inc., Nova Biomedical Corp., Acon Laboratories Inc., Universal Biosensors, Pharmaco-Kinesis Corporation, Biacore, and Others
  Key Market Opportunities   R&D spending and collaborative strategies adopted by the top players such as new product launches and collaborations for product development
  Key Market Drivers

  • Increasing prevalence of diabetes in emerging economies
  • Demand for advanced monitoring systems
  • Increasing awareness about advance biosensors


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    Frequently Asked Questions (FAQ) :

    Smart biosensors market is projected to grow at a 6.90% CAGR between 2022-2030.

    The Americas is expected to dominate the smart biosensors market.

    Smart biosensors market is predicted to touch USD 23819.88 million by 2030.

    Smart biosensors are widely used in drug discovery, blood glucose testing, pregnancy testing, and others.

    Unfavourable reimbursement policies and increasing cost of biosensors may limit the smart biosensors market growth.